Technical Analysis and Outlook
The index is continuously moving steadily to higher towards our Next Index Rally 2840 , while a significant Key Res 2814 will act as a major barrier. In near-term, on the downside, there is an intermediate Mean Sup 2747 , and Key Sup 2706 . (For latest Market Commentary, please visit the TradingSig_dot_com).
In this screencast I say that the recent weekly price action in Wall Street is a correction in a bear market. Price has moved into a critical zone and is struggling to stay afloat. This does not mean that it is bound to collapse. It means that price can probably move south.
Fundamentals:
- eco data clearly on the soft side (fear of technical recession becoming reality)
- low int. rate environment - hurting EU financial sector
- wage growth pressing company margins
Technical:
- weekly 20 & 200 MA confluence was a strong resistance -> reason to close long positions
- broad channel pointing lower -> price below 10.000 level is on the table
Still holding entire position and will fill more in red box. Bearish retest of broken uptrend line followed by a completion of a bearish inverse head and shoulders pattern. This is what I expect to play out.
If you compare the cycles and their behavior, this could get a lot more worst than it is right now. I drew the different stages of the rise and the eventual melt down, so maybe someone is interested in it. Keep some dry powder for the depression mode. Cash might not be the right powder;), but who knows. FOREXCOM:XAUUSD FOREXCOM:XAGUSD
I also put the...
Before Trump was president he said it himself stocks are in a bubble also mentioning in the conversation it was because the FED propped all things up. Then trump came with the tax-deal, which exploded the value. Now rent is increasing and the stocks sell of hard, after a double top pattern,
Now the market will recover to a last time high price to from there on...
The BOVESPA on IBOV index is not popular on Tradingview - just once posted before now in 2017. This is probably the last of the indices to make a serious move south, as the expected global economic meltdown sets in.
The BOVESPA is a wild one and requires a load of equity to trade on a live account. This does not mean that we cannot learn from its moves. It's...
With Stock markets starting to enter Bear Market, a lot of Investors are looking for safe havens, GOLD is one of those, with a correlation to the stock market, Gold strengthens when the Indices weaken, we believe the is a large presence of Short Sellers at around the 1,303.000 area, this may only be temporary (quick bounce) as Gold prices could continue to go to...
Technical Analysis and Outlook
As shown on Nov 24 chart analysis, DJI inner Index Dip 23210 was completed as of Dec 20 trading session, while Current Index Dip 23365 is open for business. There is two additional Index Dip outcome for mid-long term perspective.
Currently, we have two strategic resistance levels to be aware of. Mean Res registered at 23223 ...
'Everybody' is watching the S&P500 and Wall Street. Some may have forgotten about the India50 (the NIFTY). It appears to be troubled. I've shorted at what I estimate to be a turning point (which is not advice for others).
If this falls, it could be ugly.
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
As you can see on the chart, The US stock market has formed a double top... Which is bearish. As Dow Jones broke the strong turquoise line support and the 200 daily moving average (pink line), the odds are for a continuation of the pull back all the way down to the February low on the yellow support line.
Stay tuned for more updates,
Fred
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
Looks like SPX may have a triple top which is bearish. We may test the previous lows and if we break those lows, triple top will be confirmed and we're going down. Any thoughts? Happy to learn..
Symmetrical triangle, a continuation pattern.
So we clearly failed not only to reach the recent 2815 resistance, but also the March 2018 resistance of 2800.
Next we go down to support from late April/early May.
Play the triangle. Until we see a breach of the triangle (should be down), enjoy the swings.
